If there is a medical emergency at home or sudden need of money for marriage etc., then personal loan is considered a good option. Its biggest feature is that cash is available immediately and there is no need to mortgage anything or deposit anything as security. However, the interest rate in this is higher than that of a car or home loan.

Keep this in mind before taking a loan

Today, through this news, we are going to give you information about the interest rate charged by some major government and private banks on personal loans. However, it is important to keep in mind that the interest rate keeps fluctuating from time to time. In such a situation, before taking a loan, go to the bank and get complete information about the interest rate. Another thing to note is that sometimes the interest rate also depends on things like your credit score.

List of interest rates charged by different banks

hdfc bank - 10.85 to 24 percent

icici bank - 10.85 to 16.25 percent

bank of Baroda (BOB) - 11.40 to 18.75 percent

mahindra BANK' target='_blank' title='kotak mahindra bank-Latest Updates, Photos, Videos are a click away, CLICK NOW">kotak mahindra bank - 10.99 to 16.99 percent

bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india (SBI) - 11.45 to 14.60 percent

punjab National bank (PNB) - 12.40 to 17.95 percent

Axis bank - 10.49 to 22.50 percent

As you can see, hdfc bank charges interest between 10.85 percent to 24 percent on personal loans depending on your profile. Along with this, the bank charges Rs 6,500 as processing fee including GST. On the other hand, icici bank charges interest between 10.85 percent to 16.25 percent and also charges processing fee of up to 2 percent. mahindra BANK' target='_blank' title='kotak mahindra bank-Latest Updates, Photos, Videos are a click away, CLICK NOW">kotak mahindra bank charges interest on personal loans ranging from 10.99 to 16.99 percent with processing fee of up to 5 percent.

Similarly, bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india (SBI) charges interest between 11.45 to 14.60 percent on personal loans. punjab National bank (PNB) charges interest at the rate of 12.40 to 17.95 percent per annum. Let us tell you that government banks have not charged any processing fee till january 31, 2025. Axis bank charges interest in the range of 10.49 to 22.50 percent. Private banks charge processing fee of up to 2 percent.